On-the-Ground Updates

Thailand Secured a 5 Thousand Ton Banana Export Deal With Japan on November 28, 2023, Demonstrating High Standards and Quality

Fresh Banana
Market & Price Trends
Thao Nguyen
Published Dec 1, 2023
On November 28, 2023, Thailand secured a deal to export 5 thousand tons of bananas to Japan. The International Trade Promotion Department in Tokyo worked with the Nakhon Ratchasima provincial trade office to bring Japanese banana experts to the area to demonstrate how to grow bananas to meet Japan's standards and quality. Thailand is the last place in the world where the Gros-Michel banana is grown. After tasting the banana, Japanese importers were satisfied, leading to the signing of the contract. Apart from Nakhon Ratchasima, other provinces, including Chiang Mai and Phatthalung, have also been explored for potential banana exports to Japan.

The export of bananas from Thailand to Japan is experiencing a positive development due to the Japan-Thailand Economic Partnership Agreement (JTEPA). The agreement includes a tax exemption for 8 thousand tons of Thai bananas, providing a significant opportunity for increased banana exports. Officials emphasize the importance of maximizing this benefit, considering it a quick win that can lead to improvements in banana exports within a short timeframe, potentially generating substantial economic value. The Deputy Director of the Department of International Trade Promotion highlighted the potential for achieving positive outcomes and financial gains through this quota.
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